Gold prices to consolidate lower in 2014: CPM Group

Despite a strong start to 2014, gold prices are likely to consolidate lower due to longer-term investors’ price sensitivity and shorter-term investors’ concerns about US Federal Reserve monetary policy, analysts from the New York-based research firm CPM Group said Tuesday.
“CPM Group does not expect gold prices to decline significantly from current levels, but neither does it expect a sharp increase in prices over 2014 and 2015,” analysts said in the group’s Gold Yearbook 2014, which was released Tuesday. In 2014, gold prices are expected to average $1,256.77/oz, down 10.8% from the $1,409.52/oz last year, CPM analysts said in the report……………………………….Full Article: Source